Incorporated in 2005, Radiant Cash Management Services Limited is the market leader in retail cash management services for banks, financial institutions, and organized retail and e-commerce companies in India. The company offers a range of services under this segment consisting of collection and delivery of cash on behalf of our clients from the end user.
The company’s management is supported by a qualified and motivated pool of about 2,012 employees (as of July 31, 2022).
The main objects of the Company are:
- To carry on the business of providing to Banks, Individuals, Commercial and Government Establishments, Cash/Cheques/DDs Pickup and Delivery Services, Cash Processing such as sorting for good and soiled currencies, notes, coins of various denominations, Overnight vaulting services for bulk cash and ATM cards, Cassettes & important documents, ATM Services, Handling of PIN mailers/drafts/cheque book delivery, Providing strong rooms installed as per RBI guidelines.
- To carry on the business of management of electronic online and mobile financial and cash transactions and product management and development of intellectual property in the area of cash management.
- To carry on any business regarding cash management under Business Process Outsourcing.
The company is one of the largest players in the RCM segment in terms of network locations or touch points served as of March 31, 2022.
Radiant Cash Management Services provide services across 13,044 pin codes in India covering all districts (other than Lakshadweep) with about 55,513 touchpoints serving more than 5,388 locations as of July 31, 2022.
The company’s key clients are Axis Bank Limited, Citibank, Deutsche Bank Limited, HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank, Standard Chartered Bank, State Bank of India, The Hongkong and Shanghai Banking Corporation Limited and Yes Bank Limited.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 141.44 | 223.13 | 25.02 | 105.72 | 17.73 |
| 31-Mar-20 | 157.62 | 251.78 | 36.5 | 119.57 | 21.13 |
| 31-Mar-21 | 162.14 | 224.16 | 32.43 | 127.1 | 11.05 |
| 31-Mar-22 | 190.57 | 286.97 | 38.21 | 139.76 | 26.75 |
| 30-Jun-22 | 203.95 | 84.38 | 15.32 | 155.19 | 25.54 |
| Amount in ₹ Crore |
Objects of the Issue
The net proceeds of the Fresh Issue:
1. Funding working capital requirements.
2. Funding of capital expenditure requirements for the purchase of specially fabricated armoured vans.
3. General corporate purposes.
Radiant Cash Management IPO Details
| IPO Date | Dec 23, 2022 to Dec 27, 2022 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price | ₹94 to ₹99 per share |
| Lot Size | 150 Shares |
| Issue Size | 39,185,606 shares of ₹1 (aggregating up to ₹387.94 Cr) |
| Fresh Issue | 6,060,606 shares of ₹1 (aggregating up to ₹60.00 Cr) |
| Offer for Sale | 33,125,000 shares of ₹1 (aggregating up to ₹327.94 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 50% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer or the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| Company Promoters | Col. David Devasahayam and Dr Renuka David are the company promoters. |
Radiant Cash Management IPO Tentative Timetable
Radiant Cash Management IPO opens on Dec 23, 2022, and closes on Dec 27, 2022. The Radiant Cash Management IPO bid date is from Dec 23, 2022 10.00 A.M. to Dec 27, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Dec 23, 2022 |
| Closing Date | Dec 27, 2022 |
| Basis of Allotment | Dec 30, 2022 |
| Initiation of Refunds | Jan 2, 2023 |
| Credit of Shares to Demat | Jan 3, 2023 |
| Listing Date | Jan 4, 2023 |
Radiant Cash Management IPO Lot Size
The Radiant Cash Management IPO lot size is 150 shares. A retail-individual investor can apply for up to 13 lots (1950 shares or ₹193,050).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,850 |
| Retail (Max) | 13 | 1950 | ₹193,050 |
| S-HNI (Min) | 14 | 2,100 | ₹207,900 |
| B-HNI (Min) | 68 | 10,200 | ₹1,009,800 |
Radiant Cash Management IPO Promoter Holding
| Pre Issue Share Holding | 66.39% |
| Post Issue Share Holding |
Radiant Cash Management IPO Anchor Investors
Radiant Cash Management IPO Anchor investor bid ended on Dec 27, 2022. A total of 39,185,606 shares are offered to Anchor investors.Radiant Cash Management IPO Anchor Investor Lock-in Period is Dec 22, 2022 for 50% of equity shares and May 5, 2023 for the remaining portion.
- Anchor Investor Bid Date: Dec 22, 2022
- Anchor Portion Size: Rs.387.94 crore (Shares offered * Upper Price)
- Anchor lock-in period end date (50% Shares): Around Feb 10, 2023 (30 Days)
- Anchor lock-in period end date (remaining shares): Around May 5, 2023 (90 Days)
Radiant Cash Management IPO Prospectus
Company Contact Information
Radiant Cash Management Services Limited
28, Vijayaraghava Road,
T. Nagar, Chennai 600 017,
Tamil Nadu, India
Phone: +91 044 4904 4904
Email: jayabharathi@radiantcashlogistics.com
Website: https://radiantcashservices.com/
Radiant Cash Management IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: radiant.ipo@linkintime.co.in
Website: https://linkintime.co.in/